International Business Machines Co. (NYSE:IBM) Shares Sold by Cullen Capital Management LLC

Cullen Capital Management LLC decreased its stake in shares of International Business Machines Co. (NYSE:IBM) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 199,367 shares of the technology company’s stock after selling 5,961 shares during the period. Cullen Capital Management LLC’s holdings in International Business Machines were worth $43,827,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of IBM. United Bank increased its stake in International Business Machines by 53.3% during the third quarter. United Bank now owns 5,628 shares of the technology company’s stock worth $1,244,000 after acquiring an additional 1,956 shares during the last quarter. Quarry LP increased its position in International Business Machines by 314.1% during the 3rd quarter. Quarry LP now owns 530 shares of the technology company’s stock worth $117,000 after purchasing an additional 402 shares in the last quarter. Quantinno Capital Management LP raised its holdings in International Business Machines by 59.8% in the third quarter. Quantinno Capital Management LP now owns 33,468 shares of the technology company’s stock valued at $7,399,000 after buying an additional 12,527 shares during the period. Wellington Management Group LLP lifted its position in International Business Machines by 5.0% during the third quarter. Wellington Management Group LLP now owns 227,815 shares of the technology company’s stock valued at $50,365,000 after buying an additional 10,862 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC grew its stake in International Business Machines by 58.8% during the third quarter. Kovitz Investment Group Partners LLC now owns 101,656 shares of the technology company’s stock worth $22,474,000 after buying an additional 37,654 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Price Performance

IBM opened at $227.31 on Friday. The company has a market capitalization of $210.78 billion, a P/E ratio of 35.46, a PEG ratio of 5.81 and a beta of 0.67. The company has a 50-day moving average of $251.46 and a 200-day moving average of $232.41. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. International Business Machines Co. has a 1-year low of $162.62 and a 1-year high of $266.45.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities analysts expect that International Business Machines Co. will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Monday, February 10th. International Business Machines’s dividend payout ratio (DPR) is presently 104.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IBM shares. Morgan Stanley raised their target price on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Bank of America boosted their price objective on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Monday, January 27th. Finally, BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $231.13.

Insiders Place Their Bets

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by corporate insiders.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.